SkepsiDyne Integrated Node - The Bitcoin Mining Company - page 20.

Nefario

hero member

Activity: 602

Merit: 512

GLBSE Support [email protected]

SIN is in danger of being delisted.

I have emailed tawsix at the begining of the week, and just sent him a PM.

https://bitcointalksearch.org/topic/glbse-companies-being-delisted-take-action-now-37414

14 hours remain for the SINs details to be updated before being delisted.

Nefario.

Ten98

sr. member

Activity: 1008

Merit: 250

Quote from: Tawsix on August 18, 2011, 06:10:39 AM

We'll be fixing all the existing machines, just not buying new ones.

Hello! Glad that you're back, I was getting worried there. Hope everything is ok.

A consolidation phase is a very good idea at this stage. If I were you I'd take some time to get your existing rigs working at absolute optimal efficiency while you get all the broken parts RMA'd and replaced.

Experiment with undervolting and underclocking your cards. This can yeild far better Bitcoin / Watt ratios than overclocking and overvolting. Given how much is being spent on electricity, underclocking should actually increase profit output rather than reduce it. Additionally, the lower temps should allow for a greater density of rigs in the available space when you start to expand again in the coming months.

Figure out clever ways to maximise your space without affecting temperatures. For example, Do you use PCI-E ribbon cables rather than plugging the cards directly into the motherboard? this can be a great way to improve airflow and temps, allowing you to stack rigs even more closely together without overheating. Simple things like a really good cable tidying job can help a lot too.

If we could have some pics of the mining hardware that would be really cool, and allow shareholders to suggest improvements...

A company that can increase profit and growth potential while reducing expenditure and without taking on any new investment is a valuable prospect indeed.

Ben Walsh (beamer)

sr. member

Activity: 343

Merit: 250

In light of recent events, I, as an investor, want to be able to accurately value this company. The base value is formed from the value of it's assets - you and the mining machines.

As part of the work for your compensation this week I ask again that you produce a detailed financial record, in the form of a spreadsheet detailing all company assets and make this available to all shareholders.

I don't want to hear anything about 'business confidentiality' at this stage I am deciding whether I remove my investment from this business.

You have one week to produce this.

I will be calling for a vote if this deadline is not met.

Quote from: Tawsix on August 17, 2011, 07:22:30 PM

Sorry again for the late payment, I will be doing payments on Wednesday for the foreseeable future, it works much better into my schedule.

I will be pasting the GLBSE response for the pay command as well from now on, it's rather informative:

{'amount': 1639000000, 'assets_paid': 2304, 'payment_per_share': 711371}

A total of 48.17 BTC was generated. 15.39 BTC was used to pay for electricity. 16.39 BTC was reinvested in to the company, and an equal amount was paid out to shareholders. Expense update is as follows:

Electricity: $158.73

I apologize for the state of the company, I'm having difficulties with some RMA's, which is why the output is currently low. Due to constraints on capacity as well as my ability to dedicate a large portion of time to expand capacity, we will not be expanding further until September at the earliest. I am not sure how much larger we will be able to get without taking a leap from small-time to big-time, and at this moment I do not have the schedule to allow for making that leap. If there is still a lot of interest in the company when my schedule clears up, we will discuss further expansion. Because I am unsure if or when we'll make that next step, I've taken down the IPO, any money raised from investment will essentially sit in my GLBSE account and only serve to dilute the amount of BTC paid as dividends without increasing output.

Tawsix

full member

Activity: 210

Merit: 100

I have always been afraid of banks.

Quote from: boonies4u on August 17, 2011, 09:58:12 PM

Quote from: Tawsix on August 17, 2011, 07:22:30 PM

Sorry again for the late payment, I will be doing payments on Wednesday for the foreseeable future, it works much better into my schedule.

I will be pasting the GLBSE response for the pay command as well from now on, it's rather informative:

{'amount': 1639000000, 'assets_paid': 2304, 'payment_per_share': 711371}

A total of 48.17 BTC was generated. 15.39 BTC was used to pay for electricity. 16.39 BTC was reinvested in to the company, and an equal amount was paid out to shareholders. Expense update is as follows:

Electricity: $158.73

I apologize for the state of the company, I'm having difficulties with some RMA's, which is why the output is currently low. Due to constraints on capacity as well as my ability to dedicate a large portion of time to expand capacity, we will not be expanding further until September at the earliest. I am not sure how much larger we will be able to get without taking a leap from small-time to big-time, and at this moment I do not have the schedule to allow for making that leap. If there is still a lot of interest in the company when my schedule clears up, we will discuss further expansion. Because I am unsure if or when we'll make that next step, I've taken down the IPO, any money raised from investment will essentially sit in my GLBSE account and only serve to dilute the amount of BTC paid as dividends without increasing output.

Will you be bring the hash rate back up to where it was before? Or is it going to be staying at around 8k?

We'll be fixing all the existing machines, just not buying new ones.

boonies4u

hero member

Activity: 826

Merit: 1000

Quote from: Tawsix on August 17, 2011, 07:22:30 PM

Sorry again for the late payment, I will be doing payments on Wednesday for the foreseeable future, it works much better into my schedule.

I will be pasting the GLBSE response for the pay command as well from now on, it's rather informative:

{'amount': 1639000000, 'assets_paid': 2304, 'payment_per_share': 711371}

A total of 48.17 BTC was generated. 15.39 BTC was used to pay for electricity. 16.39 BTC was reinvested in to the company, and an equal amount was paid out to shareholders. Expense update is as follows:

Electricity: $158.73

I apologize for the state of the company, I'm having difficulties with some RMA's, which is why the output is currently low. Due to constraints on capacity as well as my ability to dedicate a large portion of time to expand capacity, we will not be expanding further until September at the earliest. I am not sure how much larger we will be able to get without taking a leap from small-time to big-time, and at this moment I do not have the schedule to allow for making that leap. If there is still a lot of interest in the company when my schedule clears up, we will discuss further expansion. Because I am unsure if or when we'll make that next step, I've taken down the IPO, any money raised from investment will essentially sit in my GLBSE account and only serve to dilute the amount of BTC paid as dividends without increasing output.

Will you be bring the hash rate back up to where it was before? Or is it going to be staying at around 8k?

Tawsix

full member

Activity: 210

Merit: 100

I have always been afraid of banks.

Sorry again for the late payment, I will be doing payments on Wednesday for the foreseeable future, it works much better into my schedule.

I will be pasting the GLBSE response for the pay command as well from now on, it's rather informative:

{'amount': 1639000000, 'assets_paid': 2304, 'payment_per_share': 711371}

A total of 48.17 BTC was generated. 15.39 BTC was used to pay for electricity. 16.39 BTC was reinvested in to the company, and an equal amount was paid out to shareholders. Expense update is as follows:

Electricity: $158.73

I apologize for the state of the company, I'm having difficulties with some RMA's, which is why the output is currently low. Due to constraints on capacity as well as my ability to dedicate a large portion of time to expand capacity, we will not be expanding further until September at the earliest. I am not sure how much larger we will be able to get without taking a leap from small-time to big-time, and at this moment I do not have the schedule to allow for making that leap. If there is still a lot of interest in the company when my schedule clears up, we will discuss further expansion. Because I am unsure if or when we'll make that next step, I've taken down the IPO, any money raised from investment will essentially sit in my GLBSE account and only serve to dilute the amount of BTC paid as dividends without increasing output.

Ben Walsh (beamer)

sr. member

Activity: 343

Merit: 250

Quote from: Ten98 on August 16, 2011, 08:24:05 AM

Quote from: NetTecture on August 16, 2011, 05:43:56 AM

Neitner nor.

* My own bitcion busienss can not fail because there is none. You cant run a bitcoin business unless lets say 75% of all income and expenditure isi n BTC - which curently wont work. I am accumulating bitcoin.
* Sorry, I would LOVE to invest into GLBSE companies, including one or two mining outfits. Just it seems there are nont worth investing. IBB - a childs joke (balance sheet is what - 500 USD?). SIN - the largest so far obviously not following up with it's obligations and telling me not to invest a SMALL amount of money (which i could just buying shares) as it would blow the capacity.

I am more fearfull that GLBSE will blow up legally at one point and / or the companies will. WHich may be bad. What is needed is some sensible business putting something up in a fully legal way. And no, dont even look into my direction - I wont take third party funds even if my life depends on it, matter of principle.

I would love SIN to actually live up to it's potential and turn into a viable investment. I would be the first to buy a couple of thousand USD in shares.

Is it possible for a Mod to remove all these argument posts from this thread and start a new one called "Are bitcoin stock exchange businesses legal" or something?

I am so sorry for contributing to this stupid argument. Roll Eyes

Ten98

sr. member

Activity: 1008

Merit: 250

Quote from: NetTecture on August 16, 2011, 05:43:56 AM

Neitner nor.

* My own bitcion busienss can not fail because there is none. You cant run a bitcoin business unless lets say 75% of all income and expenditure isi n BTC - which curently wont work. I am accumulating bitcoin.
* Sorry, I would LOVE to invest into GLBSE companies, including one or two mining outfits. Just it seems there are nont worth investing. IBB - a childs joke (balance sheet is what - 500 USD?). SIN - the largest so far obviously not following up with it's obligations and telling me not to invest a SMALL amount of money (which i could just buying shares) as it would blow the capacity.

I am more fearfull that GLBSE will blow up legally at one point and / or the companies will. WHich may be bad. What is needed is some sensible business putting something up in a fully legal way. And no, dont even look into my direction - I wont take third party funds even if my life depends on it, matter of principle.

I would love SIN to actually live up to it's potential and turn into a viable investment. I would be the first to buy a couple of thousand USD in shares.

Is it possible for a Mod to remove all these argument posts from this thread and start a new one called "Are bitcoin stock exchange businesses legal" or something?

I am so sorry for contributing to this stupid argument. Roll Eyes

NetTecture

full member

Activity: 140

Merit: 100

Neitner nor.

* My own bitcion busienss can not fail because there is none. You cant run a bitcoin business unless lets say 75% of all income and expenditure isi n BTC - which curently wont work. I am accumulating bitcoin.
* Sorry, I would LOVE to invest into GLBSE companies, including one or two mining outfits. Just it seems there are nont worth investing. IBB - a childs joke (balance sheet is what - 500 USD?). SIN - the largest so far obviously not following up with it's obligations and telling me not to invest a SMALL amount of money (which i could just buying shares) as it would blow the capacity.

I am more fearfull that GLBSE will blow up legally at one point and / or the companies will. WHich may be bad. What is needed is some sensible business putting something up in a fully legal way. And no, dont even look into my direction - I wont take third party funds even if my life depends on it, matter of principle.

I would love SIN to actually live up to it's potential and turn into a viable investment. I would be the first to buy a couple of thousand USD in shares.

Ben Walsh (beamer)

sr. member

Activity: 343

Merit: 250

NetTecture ...

Why are you so determined to undermine the efforts of others?

So far you have come across as an insulting and angry person.

I suspect that either you feel threatened by the competition one or more of the GLBSE listed companies represent or your own Bitcoin related business has already failed and feel they are responsible in some way.

If you have no intention of investing in SIN then kindly leave the thread so that others who want to / have can conduct our business in peace.

We are not children and are more than aware of the risks we take by investing.

Start your own thread if you want. I'll happily debate this stuff with you.

Nefario

hero member

Activity: 602

Merit: 512

GLBSE Support [email protected]

Quote from: NetTecture on August 16, 2011, 12:40:35 AM

This shows one significant structural problem with GLBSE companies so far: they all are tiny by any regular means. Sosmall they dont have any infrastructure - no phone, no personell etc. Maybe he just hat an accident or has an emergency? Noone knows - but then, there is noone to replace him.

This is not a problem. Judge me by my size do you?

All those things, extra staff, phones etc. are not needed to run a small, tight ship. The size of the company doesn't matter, what does matter is whether it is profitable. This is micro-investment come true.

Many companies/startup would go out of business tomorrow if one of the founders was hit by a bus, they're a key man, and there are plenty of one or two man operations worth millions in the world.

Also GLBSE is not the NYSE, we don't do valuations of billions(yet), what we do do however is allow people to make small investments at almost 0 overhead (good luck doing that with a share broker or even stock market trading website).

Secondly we allow people with great ideas and drive to get the capital they need to get going. GLBSE itself is an investment of myself and several others. You can see the share of BG. It is to allow the most efficient allocation of resources available.

NetTecture

full member

Activity: 140

Merit: 100

Quote from: Ten98 on August 15, 2011, 02:32:40 PM

I refuse to even get involved at this point.

That is ok. Some understanding of flawed logic in your side showing up finally.

Quote

I am slightly concerned about the lack of activity from tawsix though. Has this all got a bit much for him?

Wel, technically at this point SIN has prooven to be in breach of contract (i.e. his own statement how the company would be handled). Under normal circumstances it would be the time to send a friendly reminder attached with a cost note from a lawyer to please adhere to contracts.

This shows one significant structural problem with GLBSE companies so far: they all are tiny by any regular means. Sosmall they dont have any infrastructure - no phone, no personell etc. Maybe he just hat an accident or has an emergency? Noone knows - but then, there is noone to replace him.

Ten98

sr. member

Activity: 1008

Merit: 250

Quote from: Nefario on August 15, 2011, 02:08:54 AM

NetTecture (and others), be civil, there is no need for personal attacks. Continueing to do so will get you suspended.

I refuse to even get involved at this point. I am slightly concerned about the lack of activity from tawsix though. Has this all got a bit much for him?

Nefario

hero member

Activity: 602

Merit: 512

GLBSE Support [email protected]

NetTecture (and others), be civil, there is no need for personal attacks. Continueing to do so will get you suspended.

NetTecture

full member

Activity: 140

Merit: 100

Quote from: ?? on ??

For all of those who think asking people to invest in a private project, regardless the name of that project, unless there have been contracts broken, there is no law being broken here.

Exccept it is not a private project, dumbo. Know, GLBSE etc. being a "stock exchange" does not make it a private invesmtment.

Look up the SEC regulations for failitating public investments and seeking investors.

The rest of the arguments is of a similar quality. You just failed logic 101 for half dumbos, obviously.

Ten98

sr. member

Activity: 1008

Merit: 250